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Ohio: Governor Vows Increased Oil and Gas Taxes

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Prior to his successful bid for re-election, Republican Governor John Kasich promised to seek increased taxes on oil and gas activity in the state. While the governor has stated his support for oil and gas development, he called the state’s current 20-cent per barrel severance tax a “rip-off to the people” of Ohio. Kasich asserts that without a sizeable tax, Ohio residents will not reap the benefits of expanding oil and gas production. The governor’s previous attempt to raise industry taxes was reduced from 2.75 percent severance tax to 2.5 percent. The measure is currently stalled in the Senate.